3 ms·

There's a lot of other reasons why it can go down and it wouldn't necessarily go down because of halving. But when a lot of people expect something to go up, it

by ftufek 7y ago

There's a lot of other reasons why it can go down and it wouldn't necessarily go down because of halving. But when a lot of people expect something to go up, it can have reverse effects. A lot of people have this assumption that it will always go up after a halving, it very well might, but at the current price point, the average person can't even afford a single Bitcoin whereas at previous halving (in 2016) that was still doable (it was on the order of a few hundreds of dollars). At this stage, you would need big investors and probably that's what companies like Bakkt will allow.

Terretta 7y ago
BTC needs to move its decimal point. Like Berkshire Hathaway: Investors appear to like Berkshire Hathaway stock in the $60s and even the $70s more than they liked it at roughly $3500 a share. Berkshire shareholders approved a 50-for-1 stock split of Berkshire's Class B shares yesterday. Trading began today. The lower price is seen as an opening for small investors who couldn't afford the old four-figure price tag. At yesterday's meeting, Warren Buffett told shareholders that the increased trading volume and liquidity for the Class B shares after the split could make it the key driver of Berkshire's market value. "The B may be the tail that wags the dog now." https://www.cnbc.com/id/34973846 https://www.cnbc.com/id/34973846 On the other hand: https://www.investopedia.com/ask/answers/021615/why-doesnt-warren-buffett-split-berkshire-hathaway-stock.asp https://www.investopedia.com/ask/answers/021615/why-doesnt-w...
- nullc 7y ago
  When the price first went over $1000 some sites switched to using mBTC ... but then the prices went under $1000 and there were complaints about the small numbers being confusing. You can't win. > opening for small investors who couldn't afford the old four-figure price tag. That's an issue that doesn't exist for Bitcoin though-- you can purchase FAR less than one bitcoin at a time.
  - Terretta 7y ago
    I didn’t remember the mBTC, that feels like a reasonable solution since it’s just psychology. It’d probably go up, as a result, too. :-)
- vinniejames 7y ago
  The problem is fragmentation, this would require upgrading thousands of apps in close proximity to avoid consumer confusion when decimal places switch across platforms
Shorel 7y ago
The minimum BTC purchase is far smaller than an entire Bitcoin.

by ftufek 7y ago

Terretta 7y ago

BTC needs to move its decimal point. Like Berkshire Hathaway: Investors appear to like Berkshire Hathaway stock in the $60s and even the $70s more than they liked it at roughly $3500 a share. Berkshire shareholders approved a 50-for-1 stock split of Berkshire's Class B shares yesterday. Trading began today. The lower price is seen as an opening for small investors who couldn't afford the old four-figure price tag. At yesterday's meeting, Warren Buffett told shareholders that the increased trading volume and liquidity for the Class B shares after the split could make it the key driver of Berkshire's market value. "The B may be the tail that wags the dog now." https://www.cnbc.com/id/34973846 https://www.cnbc.com/id/34973846 On the other hand: https://www.investopedia.com/ask/answers/021615/why-doesnt-warren-buffett-split-berkshire-hathaway-stock.asp https://www.investopedia.com/ask/answers/021615/why-doesnt-w...

nullc 7y ago
When the price first went over $1000 some sites switched to using mBTC ... but then the prices went under $1000 and there were complaints about the small numbers being confusing. You can't win. > opening for small investors who couldn't afford the old four-figure price tag. That's an issue that doesn't exist for Bitcoin though-- you can purchase FAR less than one bitcoin at a time.
- Terretta 7y ago
  I didn’t remember the mBTC, that feels like a reasonable solution since it’s just psychology. It’d probably go up, as a result, too. :-)
vinniejames 7y ago
The problem is fragmentation, this would require upgrading thousands of apps in close proximity to avoid consumer confusion when decimal places switch across platforms

Shorel 7y ago

The minimum BTC purchase is far smaller than an entire Bitcoin.